804 Adjustments and information

Summary

This section provides for adjustments to be made on the completion of the administration of an estate in respect of any overpayments or underpayments. It also provides for the furnishing of information to the Revenue.

Details

(1) If on the completion of the administration of an estate, the amount finally paid to a beneficiary for any year of assessment is greater than the amount previously deemed to have been paid, an amended assessment may be made.

(2) If on the completion of the administration of the estate the amount finally paid to a beneficiary for any year of assessment is less than the amount previously deemed to have been paid, any overpaid tax is to be repaid notwithstanding the general time limit for making a claim for a repayment of tax set out in section 865. Any reliefs given will have to be readjusted to reflect the final amounts payable.

(3) The time limit for making an amended assessment, adjusting an existing assessment or claiming a refund for overpaid tax is 3 years from the end of the tax year in which the administration of the estate is completed.

(4) The Revenue Commissioners may ask, in writing, any personal representative both current or former, or any beneficiary, for information in connection with the administration of a deceased person’s estate. This information must be given within 28 days.

Relevant Date: Finance Act 2021